Welcome to the Phoenix ($PHNX) Q&A with The Gem Hunters
We would like to thank the Phoenix team for coming to The Gem Hunters and kindly sharing information on the project with our community.
Q1. PheonixDAO is only 2 months old, we rarely get the pleasure to host such tiny new projects! Can you give us an insight to who and how the project was brought to life and what was the original goal of the project?
Well honestly thank you so much for hosting us, it’s a really exciting time in the space at the moment and we’re definitely making the most of it.
As a collective of entrepreneurs and existing business owners, the PhoenixDAO core team were all heavily involved as project Hydro community members, the original vision was something that we all fell in love with way back when.
Kyle Gibson: Communications Director and Shadow MD of a U.K LLC
Clement Hugbo: Creative Director and Founder of https://crevatal.com/
Syed Hussain: Blockchain Director and CTO of http://xord.one
Monte Thomas: Partnership Director with over 5 years academic and field experience in Blockchain and Data Analytics covering Marketing/Sales/Biz Development.
Over the years we became friends and all had similar views on the direction in which Hydro was heading and shared a vision. That was to create our own project which took all the good bits from projects we had around us and our experience to create the best of breed as it were. Obviously slightly biased opinion but we truthfully believe that PhoenixDAO and PHNX is a leap ahead of most start-ups and projects of our size. When planning the creation of PhoenixDAO the initial focus was ‘if we were to fork open source tech what benefits does that give us and how can we improve what’s already being done’ This graphic give a quick comparison of the changes we made.
The aim is to be fluid, adapting to new innovations in the space however, having an ecosystem which spanned protocols powered by PHNX to a dApp store that enables third party participation and then flagship dApps that become the really fun part for the community.
Q2. As we already know, you’re are aiming to implement a DAO (decentralized autonomous organization). Can you Please give us some details on the Phoenix DAO and how why its going to appeal to investors?
The DAO is a key part of what we’re building, our aim is to build out a solid foundation of technology solutions, partnerships and exchanges to then take a phased approach to launching the DAO. Taking it one step at a time and ensuring we follow a laid down structure and roadmap. Ideally we would go fully decentralised from the get go however, because we are building a state of the art platform in a space that is on the forefront of innovation we are still finding that taking a more trial and error approach is safer. We are expecting to be able to have the community start using the DAO later in 2020 however, the full roll-out will be reassessed every 6 months. You can see the latest update in full here - https://medium.com/phoenixdao/first-look-building-the-dao-2b15aac73ef1?source=friends_link&sk=60e5bc82b634695eeb98efdeb293838c
Having the DAO gives the PHNX community a true influence on the projects direction, something that we are striving to avoid is centralised entities being able to control the direction of the project and lack transparency. This is our major drive!
Q3. DAOs are very community driven and depend on a strong supportive community. Can you give us a few metrics for Phoenix DAO on that end? i.e (dev pool, ambassadors)
Absolutely agree, without a strong community arguably the DAO is pointless, we take this very seriously with every decision we make to ensure a strong $PHNX market, positive community sentiment and inclusion.
As you started off with, we are a startup so of course i’d be lying if I sat here and said to you that we have this all worked out!. Fact of the matter is that we are constantly assessing feedback and performance to adapt and evolve all of our initiatives. It’s not just about working hard but also being open to change this is really helping us come up with ways to on-board more community participation and grow. Quite often it’s the management structures to back these initiatives that is the most complex and where things fall over.
From a development resource perspective we currently have a pool of developers at our disposal who are available to complete bounty projects as and when we need them too. Currently sitting at around 40 developers in our channel.
We recently launched the Country Ambassador program which to date has received over 75 applicants and saw us on-board three team ambassadors, one being a team leader who is supporting a number of marketing initiatives, and it’s been awesome so far. They are effectively part of the core team. Details on the initiative can be found here - https://medium.com/phoenixdao/were-extremely-excited-to-be-sharing-the-news-that-we-are-growing-e279d67c7fe
Q4. You have a close partnership with Numio of which both of your projects benefit.
4.1 Could you give us a quick explanation on what Numio actually is?
4.2 which parts of the Phoenix DAO technology is Numio utilizing?
4.3 What are the benefits for Phoenix DAO within this partnership?
Well to put it simply, Numio is a global team of passionate blockchain and product development specialists. We are dedicated to simplifying and fast-tracking blockchain adoption. Our team spans 9 countries and 6 continents and we really enjoy what we are building, creating and aligning ourselves with like-minded projects. Numio is building the decentralized, hybrid product layer infrastructure that is needed to reach the unbanked in any part of the world - right from your pocket on on your screen. Our proprietary technology works hand in hand with different kinds of open source protocols (like the ones from PhoenixDAO) to power an advanced suite of applications (Numio Pay & Numio Vault) - covering payments, asset management, and digital identity management.
Here is little look at Vault our advanced crypto storage solution:
PHNX will benefit from added use case for the token:
Users that make Peer to Peer (P2P) payments or in-store Point Of Sale (PoS) transactions using PHNX will pay reduced fees.
Users making trades on Vault will pay reduced fees when using PHNX
Users will get VaultPRO subscription discounts for paying in PHNX
PHNX staking will be available
PhoenixDAO is integrating Numio Pay and Numio Vault open APIs into the DAO software structure in the following way:
Numio Pay blockchain based 2FA will be used to access DAO software and in DAO voting identity verification.
PhoenixDAO has been granted a license to white label Numio Vault to secure the DAO funds and DAO rewards using Numio’s multi-signature technology.
Q5. The native token of Phoenix DAO is $PHNX. Could you tell us what it's use case within the PheonixDAO ecosystem is?
There are different layers something that makes PhoenixDAO quite unique. We have used Ethereum at the layer 1 level to build into layers 2 & 3 adding $PHNX utility throughout.
APIs, Apps, & dApps (e.g. Numio Pay, Numio Vault, Events Marketplace, Cryptokitties, dApp Store, and basically any other product on Ethereum)
Smart contracts & protocols (e.g. PhoenixDAO, Uniswap, Link, MakerDAO, DAI)
Blockchain Network (e.g. Ethereum, Bitcoin, etc.)
We’re actually releasing usable products ourselves (Flagship dApps 👀) and also as Tim just shared so are our key partners.
Phoenix dApp Store
Token usage: 2% of all dApp store sales will be sent to the DAO, dApp sales will be priced in PHNX. With options to trade any ERC20 for PHNX instantly. Owners of dApps can charge users additional fees in PHNX, ETH, & DAI, and 2% of the sales of these transactions go to the DAO smart contracts. And all DAO funded flagship dApp sales will be used for ecosystem expansion.
Token usage: Staking/Voting and actually submitting proposals.
Phoenix Events dApp
Token usage: Buy, sell, and gift event tickets, which are purchased in PHNX.Early access on purchasing tickets can be given to PHNX token holder basically orientating all the transactions around PHNX with incentives to encourage use.
Also it would be awesome to see new subscribers so be sure to check out our newly launched YouTube channel, it’s a little sparse at the moment but we have some awesome content in the making - https://youtu.be/4POdovE_Nnw
Q6. Can you summarize the mission of Phoenix DAO eg. What issues within the blockchain space, but also the world outside of blockchain, you are trying to tackle?
Our mission at PhoenixDAO is simple, bringing true decentralization to the community. And to this, our mission is to create a fully self-sustaining decentralised ecosystem completely controlled by the community. Ensuring that every single person in the PhoenixDAO community have a voice and they can actually see that what they have decided to be executed was actually done. We hope to generate endless opportunities for new innovations to those who previously didn’t have the financial backing or the support to be able to realise their ambitions, reaching the unbanked areas and having a positive impact on their way of life. We strongly look out for hundreds of partners to start using PHNX, just like you saw in the video @Cryptololo08 shared. We hope to bring complete decentralisation to the way of life of people, by giving them better ways to also achieve financial inclusion with respect to $PHNX. I think that really is the beauty of what we're creating, it spans right from including and helping individuals through to the potential of us working with global institutions.
Q7. You guys are heavily involved in the crypto space and therefore you obviously know about the hype and euphoria around Defi.
How is Phoenix DAO attached to the Defi scene?
DeFi really is the buzz word right now but rightfully so. Our protocols are extremely well suited to enable DeFi solution development just like we see with Numio and actually more recently with the work we are doing with Ferrum Network. A number of our flagship dApps will be within the realm of “DeFi” something we will share a shortly ticks this box.
Q8. 2020 has been a successful year for Phoenix DAO. You finished and released multiple products integrated within your ecosystem. Can you please give us a brief overview on what they are?
Yes it's already been a whirlwind to honest, but a fantastic one!
All protocols have been ported to github, we are about to re-focus on the Phoenix dApp store which will hopefully be finalised by the end of the year as will the first phase of our DAO. Something that is close to launch is the Phoenix Events Market dApp. The Phoenix Events dApp is a dApp based on Ethereum that provides an ability to create events and sell tickets for events with PHNX as the primary transacting token, you can think of this like an Eventbrite or a Meetup type dApp
For example, this allows a user to create an event for a school fundraiser, charity event, an online conference or webinar, the sky is the limit really. Free events are also possible along with setting limits for how many tickets you want to sell. The event creator determines how many PHNX the event costs - for example: 100PHNX - and any time a person around the globe purchases a ticket, 100PHNX will be sent to the event creators ERC-20 wallet and the ticket will be sent as an ERC721 to the person who purchased.
Q9. We are excited about some of the products that you currently have in the development stage. Can you please guide us through some of the upcoming features and products involved in the Phoenix DAO and can you please give us an update on the development progress of the above?
I feel like we might have covered a chunk of this question previously but just to recap. The DAO front end is complete as is the back end architecture and development is in full swing. Events dApp is extremely close to launch and this will open up a completely new vertical to us, being able to utilise this dApp to promote events such as this AMA but also offline events. dApp store is also being worked on and is going to essentially be the the center of our ecosystem.
We actually wanted to bring an EXCLUSIVE piece of news to you all here at TGH - We can confirm that as of next week we will be revealing the first launched $PHNX flagship dApp 🔥🔥
Whilst we cannot give the full details of it yet, I can share that full details will be revealed next week along with information to join the invitation only beta testing. @codemathics has been working on our marketing campaign and can share the first glimpse at what's been developed